v2.4.0.6

Non-Mineral Leases (Tables)

12 Months Ended

Dec. 31, 2011

Future Minimum Rental Payments Due under Noncancelable Leases

At December 31, 2011, future minimum rental payments due under noncancelable leases related to continuing and discontinued operations were:

		Millions of Dollars
2012		$	767
2013			519
2014			382
2015			300
2016			202
Remaining years			591
Total			2,761
Less income from subleases			132	*
Net minimum operating lease payments		$	2,629

* Includes $64 million related to subleases to related parties.

Operating Leases Rental Expense

Operating lease rental expense included in continuing operations for the years ended December 31 was:

		Millions of Dollars
		2011				2010				2009
Total rentals*		$	304				267				259
Less sublease rentals			(14	)			(14	)			(18	)
		$	290				253				241

* Includes $29 million, $16 million and $15 million of contingent rentals in 2011, 2010 and 2009, respectively. Contingent rentals primarily are related to drilling equipment and are based on usage or volume of product sold.

X

- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717

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X

- Definition

Tabular disclosure of rental expense from operating leases for each period for which an income statement is presented with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717

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